Abstract

BANDEIRA, Pablo. INSTITUTIONS AND ECONOMIC DEVELOPMENT. A CONCEPTUAL FRAMEWORK. Rev.econ.inst. [online]. 2009, vol.11, n.20, pp.355-373. ISSN 0124-5996.

In recent years, there has been a plethora of econometric literature on the determinants of growth. However, the lack of a theory that integrates economic, political and cultural factors does not allow an adequate interpretation of these new results. This article proposes a conceptual framework that can facilitate the interpretation of these econometric results, reach some conclusions about political and economic institutions that favour development and the political problems that arise when modifications of the former are proposed.

Keywords : institutions; economic development; political economy of development.

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